Examining Value, Measuring Engagement

Examining Value, Measuring Engagement

A National Study of the Long-Term Outcomes of a Law Degree

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Examining Value, Measuring Engagement

Foreword

A Message from AccessLex Institute

There was a time when earning a law degree was assumed to be a sure path to financial security and prestige. The ostensible trappings of the legal profession -- power, access and wealth -- made law school a popular higher education destination for people wanting to make money, change the world or simply "find themselves." In those days, law school was relatively inexpensive, and jobs were plentiful. But rising tuition costs and the recessionary contraction of the legal job market have led to declines in the popularity of law school as questions about the value of a law degree have risen.

To learn more about how the value of a law degree is currently perceived, AccessLex Institute commissioned Gallup to conduct a study of law school graduates at various stages of their careers, as well as graduates in other disciplines. The study adopted a holistic conception of value, encompassing not only financial payoffs, but also well-being and professional engagement. We were interested in learning more about how the perceived value of the degree varied among people who graduated law school before, during and after the Great Recession. We also wanted more insight into how law school graduates' experiences and perceptions compared with those of recipients of other higher education degrees. The study builds on our Life After Law School report by drawing from a more nationally representative sample of graduate and professional degree holders.

Several important themes from this report stand out -- the most prominent being that the perceived value of a law degree remains high across all bachelor's degree and advanced degree holders. Almost half of the survey respondents stated that a law degree was "very valuable." This proportion was second only to a medical degree among degrees beyond the bachelor's level. The findings also highlight the broad utility of a law degree. Law graduates were more likely than other degree holders to state that their studies helped prepare them for financial, legal and other issues that arise in their personal lives. Law graduates also extolled the extent to which their studies helped hone their analytical and critical thinking skills.

But in spite of this positive view of a law degree's extended usefulness, the challenges of the Great Recession were apparent. Study participants who graduated law school during or after the recession were less likely than earlier law school graduates to find satisfactory employment within one year of graduation. Not surprisingly, these graduates were also less likely to state that their law degree was worth the cost. We observed similar trends among graduates who amassed large amounts of student loan debt to finance their legal education.

In short, while a law degree is still held in high esteem, it is now seen as a riskier investment than in the past. The law encompasses everything we do, and lawyers are stewards of the legal process. Therefore, understanding the factors that underlie perceptions of legal education -- the predominant pathway into the legal profession -- is important to legal educators, to the legal profession and to society. We are happy to have partnered with Gallup to conduct this important study.

Copyright ? 2018 Gallup, Inc. All rights reserved.

01Examining Value, Measuring Engagement Executive Summary

By 2019, over 3 million Americans will be enrolled in a graduate program.1 This is an important and difficult choice for most students, given the time, money and uncertain job prospects associated with advanced degrees. The decision to attend law school is particularly challenging, as student loan burden and job market competitiveness have increased significantly since the end of the Great Recession. Furthermore, as noted by the National Task Force on Lawyer Well-Being, the legal profession is "at a crossroads" caused by a dwindling market share, waning public confidence and mental health issues among lawyers.2 These challenges call for a closer examination of the value of a law degree and its unique offerings compared with other advanced degrees.

The Gallup-AccessLex Institute study of Juris Doctor (J.D.) degree holders provides important insights for educators, employers, law school alumni and prospective students about the factors that contribute to great jobs, lives and experiences for law school graduates. A law degree is one of the most valuable advanced degrees as evaluated by law graduates and other degree holders. As described in the key findings, most law graduates strongly agree that they would still get a J.D. if given the opportunity to go back and do it all over again. Furthermore, nearly half strongly agree that their degree was worth the cost. While many recent law graduates have negative views of the J.D., graduates who are more advanced in their careers tend to have higher levels of well-being and more positive assessments of the value of a J.D.

Key findings include:

1 C ollege graduates view a J.D. as one of the most valuable advanced degrees. While a doctor of medicine degree is widely viewed as the most valuable advanced degree, nearly nine in 10 adults with a bachelor's degree or higher view a J.D. as either very valuable (47%) or valuable (41%). J.D. holders view the degree even more positively than those who don't hold a J.D., and 59% of J.D. holders would recommend the degree to other people like them.

2 M ost J.D. holders had a positive experience in law school. Over half (52%) of all J.D. holders strongly agree that if they could go back and do it all over again, they would still get a law degree. Those who accrued higher student loan debt to obtain their law degree are less likely to strongly agree. Among those with the most debt -- over $100,000 in 2016 dollars -- 42% strongly agree they would make the same decision.

1 McFarland, J., Hussar, B., de Brey, C., Snyder, T., Wang, X., Wilkinson-Flicker, S., ... Hinz, S. (2017). The condition of education 2017 (NCES 2017-144). U.S. Department of Education. Washington, D.C.: National Center for Education Statistics. Retrieved from

2 National Task Force on Lawyer Well-Being. (2017). The path to lawyer well-being: Practical recommendations for positive change. Retrieved from

1 Copyright ? 2018 Gallup, Inc. All rights reserved.

Examining Value, Measuring Engagement

3 L ow valuations of a J.D. degree are driven by student loan burden and graduation timing. Less than half (48%) of all J.D. holders strongly agree that their degree was worth the cost. Among those with over $100,000 in debt, only 23% strongly agree that their degree was worth the cost. Additionally, law graduates who obtained their degree during or after the Great Recession are much less likely to strongly agree that their degree was worth the cost, even when controlling for the amount they borrowed to obtain their degree.

4 J ob-related assistance provided by their university is directly related to how graduates evaluate the value of their degree. Two-thirds of those who report that their law school was very helpful in getting them a job upon graduation also strongly agree that their degree was worth the cost. By contrast, just 19% of those who describe their law school as very unhelpful in getting them a job consider the degree worth the cost. Surprisingly, having a practical experience in law school does not increase the odds that J.D. holders evaluate their degree positively. Nor does it increase the likelihood that they obtained jobs more quickly upon graduation.

5 W hile recent law graduates spend more time in the job market, most J.D. holders find a good job before graduating law school. Over half (51%) of all J.D. holders had a good job waiting for them when they graduated from law school. This rate jumps to 71% for students who finished in the top 10% of their class but falls to 30% for students who finished outside of the top 33%. Post-recession law graduates have a harder time obtaining a good job: 44% had one waiting for them at graduation, but 26% had to wait over a year.

6 J.D. holders are as likely as those with another type of advanced degree to be engaged in their work. Forty-three percent of J.D. holders who are employed are engaged at work, i.e., intellectually and emotionally connected with their organizations and work teams. Among those practicing law for their profession, 42% are engaged at work. Patterns of engagement are similar across degree holders: 42% of other advanced degree holders and 44% of those with a bachelor's degree only are engaged.

7 L aw school graduates have the highest levels of community well-being, compared with other college graduates and advanced degree holders. However, J.D. holders lag behind those with other advanced degrees, but outpace or tie those with a bachelor's degree only, in purpose, social and physical well-being. Law graduates are less likely than those with a bachelor's degree only and other advanced degrees to have thriving financial wellbeing. This is likely driven by high levels of student debt among recent law graduates; student loan debt has a direct impact on financial well-being.3 As J.D. holders become more experienced, overall well-being tends to improve; more than 20% of those who graduated before 1990 are thriving in all five elements of well-being, compared with just 5% of those who graduated after 2009.

3 Dugan, A., & Kafka, S. (2014, August 7). Student debt linked to worse health and less wealth. Retrieved from

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